DELL vs FLEX: Correlation
Dell Technologies (DELL) and Flex Ltd. (FLEX) show a moderate relationship: their 3-year correlation of weekly returns is 0.52.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DELL and FLEX?
Across a 3-year window, the weekly returns of DELL and FLEX correlate at 0.52, moderate. Recent behaviour matches the longer record: 0.51 over 1 year against 0.52 over 3. Stretching to 5 years gives 0.50, with an annualized covariance of 1611.4 %².
By 3-year correlation, FLEX places #12 of the 29 assets tracked against DELL. The last year tells two different stories: DELL led by 146.4 percentage points, +261.0% for DELL against +114.6% for FLEX. This link changes with the market regime, having swung between 0.24 and 0.76 on a rolling one-year basis.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
DELL vs FLEX: side by side
| DELL (Dell Technologies) | FLEX (Flex Ltd.) | |
|---|---|---|
| 1-year return | +261.0% | +114.6% |
| 5-year return | +945.0% | +716.5% |
| Volatility (ann.) | 61.3% | 50.9% |
| Beta vs S&P 500 | 2.02 | 1.70 |
| Max drawdown (3Y) | -59.6% | -40.0% |
| Market cap | $305.1B | $42.6B |
| P/E (trailing) | 36.9 | 43.2 |
| Dividend yield | 0.48% | 0.00% |
| Sector / category | Information Technology | Information Technology |
Year-by-year returns
| Year | DELL | FLEX |
|---|---|---|
| 2022 | -26.6% | +17.1% |
| 2023 | +95.9% | +41.9% |
| 2024 | +53.0% | +67.2% |
| 2025 | +11.2% | +57.4% |
| 2026 | +278.6% | +90.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DELL and FLEX good diversifiers for each other?
Somewhat, no more. With 0.52 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between DELL and FLEX?
The DELL/FLEX correlation stands at 0.52 on a 3-year window (1 year: 0.51, 5 years: 0.50), computed from weekly returns as of 2026-08-27.
Is FLEX a good diversifier for DELL?
Somewhat, no more. With 0.52 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.52 mean?
On the −1 to +1 scale, 0.52 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/dell-vs-flex.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/dell-vs-flex/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DELL correlations · FLEX correlations
